rain and mountain snow will reach from washington state to central california. >>> on cbs moneywatch it's do or die for snack maker hostess and the hiring outlook for the next crop of college graduates, ashley morrison is here in new york with more. >> reporter: this could be the day when hostess brand goes out of business. the maker of twinkies, won bread and other products say it may liquidate its business as early as today unless striking workers go back to work. 18,000 workers would lose their job. the company shut three plants earlier this week. some employees will return to work. continued concerns about the fiscal cliff in the u.s. slowed down stocks in asia. hong kong's hang seng grew up and the nikkei added 2%. wall street stocks posted a third consecutive decline driven by weak retail forecasts and higher unemployment claims. the dow lost 28 points on thursday. nasdaq ended nine points lower. investors will be watching today's meeting between president obama and congressional leaders for signs of a break in the fiscal cliff negotiations. federal reserve chairman says banks